The Deputy PM made that statement while receiving Lao Minister of Industry and Commerce Viyaketh on May 4.

He went on to say that the Government encourages the two nations’ ministries and agencies to boost cooperation and exchange their views on specific measures to create favorable conditions for the two sides’ businesses to step up trade linkages.

Vietnam and Laos set the target to increase the two-way trade turnover to US $1 billion in 2012.

Minister Viyaketh, who is now on a working visit to Vietnam, informed the host about the results of the working sessions with Vietnamese ministries and agencies about issues of mutual concerns.

He believed that the target of US $1 billion trade value is within reach in the Vietnam-Laos Friendship Year of 2012.